South Korea Tax Agency Issues Press Release on Year-End Tax Settlements for Nonresident Workers

The South Korean National Tax Service Jan. 7 issued a press release on the year-end income tax settlement requirements for nonresident workers. The press release includes: 1) a clarification that year-end tax settlements for nonresident workers with 2025 income are due on or before the date on which February 2026 wages are paid; 2) the 50 percent income tax reduction for wage and salary income earned by specified nonresident engineers and technicians, subject to conditions; 3) the optional 19 percent flat-tax rate for nonresident employees working for 20 years; 4) an expansion of the income tax deduction for savings on ...